Gone are the days when parents had to visit the administrative office of a school to pay off monthly fees. With the introduction of modern and digital payment solutions like FidyPay education payment solutions, bid farewell to those long queues and prolonged waiting times to pay off the tuition fees of your kid.
This burden affected both parents and staff, who dedicated their days to collecting, recording, and issuing receipts for payments. In short, digitalization has now brought ease to this complex education payment system by taking it online.
With digital education payment solutions, fee collection is more efficient, as parents can make the payments on time and in the comfort of their homes. Alongside that, the administrators at school can focus on other crucial tasks associated with students’ education, as the payment collection will be completely automated.
Isn’t this a fascinating innovation linked to technology? This ease of payment has made lives easier for parents and school authorities alike. To help you get a better insight into the efficacies of the modern-day education payment system, this article will briefly elaborate on a few of its benefits and how FidyPay is taking impactful steps to promote its adoption.
Benefits of Modern Education Payment System
Some of the benefits associated with the digital education payment system in the modern era are:
1. Ensure Timely Fee Payments
Earlier, when there was only the traditional mode of paying the fees, parents found it quite difficult to spare a day off to stand in long queues and clear the fee dues. As a result, the due dates get missed, and that welcomes a late fee and some notices, which isn’t healthy.
Therefore, the digital education payment system helps you overcome these problems. It is because you will be given a notification when the due date of fee payment is close. Following that, you can use the dedicated application to process the fee payments on time.
2. Saves a Lot of Time
When the parents have the feasibility to pay off their kids’ school fees by just clicking on a button, it will save a lot of time that they had to spend earlier standing in queues. With the digital education payment solutions in implementation, parents can now use net banking, UPI, cards, and other such payment modes to process payments.
The digital solutions ensure quick operations, as the payment gets executed within a few seconds. Following that, the parents will be able to download fee receipts. Such flexibility will also help the school administrators save a lot of time that they spend counting and depositing money in the school’s bank account.
3. Better Tracking and Monitoring of Payments
Most parents need the school fee receipts for certain professional reasons. Therefore, they often prefer storing the paper receipts that they used to get in the past for paying money traditionally. But, with the digital system in place, you can now access the prior transaction reports almost anytime you want.
You can always download the receipts and store them in a folder on your device or computer, but that’s not at all required. It is because anytime you come back to the school’s payment portal, you will always find all your transactions in one place. The same goes for the school administration as well! They can pull a student’s fee details in just a couple of seconds.
How FidyPay is Helping Promote Modern Education Payment Solutions?
FidyPay, being one of the top payment service providers, is utilizing API banking and helping educational institutes set up their digital payment portals. With this, schools can now create an online application and enable it to accept payments and deposit them directly to the school’s bank account.
In accordance with helping you integrate dedicated APIs to enable payment collection on your school portal or platform, FidyPay also provides certain more features to make this execution better and flawless
- Payment Gateway:
FidyPay provides the schools with a payment gateway for securely processing the payment transactions from the parents’ account to that of the school’s account. With this, the payments will be managed from end to end, ensuring your money is securely managed during the entire transaction process.
FidyPay can integrate UPI payment solutions into the platform, enabling parents to quickly process fee payments without the need for pulling out their cards or net banking credentials. This will also help parents choose their desired UPI payment apps to process the fee payments.
It is one of the most efficient features that FidyPay helps schools or colleges add to their respective portals. Parents often decide on choosing schools based on the fee payment flexibility they offer. So, integrating EMI features onto your platform would help parents find your school more reliable than others, as they can pay off the annual tuition fees in a specific number of installments.
It doesn’t matter whether you are running a school, college, or coaching center; collecting payments might be quite complex for you, and at the same time, it is full of hassles for parents as well. Therefore, let’s put an end to it and bring the modern education payment solution to life.
FidyPay offers seamless API integration onto the existing or new application, enabling your education hub to start collecting payments digitally and instantly. You won’t have to do literally anything because the secure gateway will automatically debit the amount from your parents’ account and credit it to yours.
You will always get the credit updates and will have access to all the transaction details over the admin portal. If you feel like this is what you need to make your business run more smoothly and let the administrators focus on other crucial things than payment, connect with FidyPay today!
We have a plethora of experts who would understand your needs and requirements associated with specific payment features that you want in your portal. Considering that, we shall do the needful and make necessary integrations to fulfill your expectations of switching to a digital education payment system.